Exploring Key Insights of the Radiopharmaceutical Theranostics Market: Growth Prospects, Emerging Trends, and Opportunities
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How has the radiopharmaceutical theranostics market size evolved in recent years?
In recent times, the market size of radiopharmaceutical theranostics has seen rapid growth. The growth is projected from $2.88 billion in 2024 to $3.27 billion in 2025, marking a compound annual growth rate (CAGR) of 13.7%. The historic growth trend can be linked to developments in radiopharmaceuticals, advancements in clinical research, funding for research, regulatory approvals, and progress in nuclear medicine.
What are the predictions for the radiopharmaceutical theranostics market size in the coming years?
The market size of radiopharmaceutical theranostics is anticipated to experience significant growth in the coming years, scaling up to $5.76 billion in 2029 with a compound annual growth rate (CAGR) of 15.2%. This growth over the forecast period can be accredited to the discovery and validation of biomarkers, progression in genomic and proteomic technologies, the evolution of precision radiotherapy, interdisciplinary alliances, as well as patient advocacy and assistance. Some of the key trends expected during this forecast period encompass ethical and lawful aspects, the incorporation of telemedicine in theranostics, patient-focused care, the tailoring of radiopharmaceuticals, and the advancement in nano-theranostics.
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What key factors are fueling the growth of the radiopharmaceutical theranostics market?
The increasing prevalence of cancer is anticipated to boost the expansion of the radiopharmaceutical theranostics market in the future. Cancer is a disease characterized by abnormal and complex cell growth with the potential to invade and spread to various parts of the body. Radiopharmaceutical theranostics contribute towards the treatment of cancer by utilizing targeted and personalized strategies. For example, in 2023, the American Cancer Society, a voluntary cancer health organization based in the US, anticipates 1.9 million new cancer diagnoses and around 609,820 deaths resulting from the disease. Furthermore, it is expected that 88% of those diagnosed will be from the age group of 50 years or older. Hence, the escalating prevalence of cancer is stimulating the growth of the radiopharmaceutical theranostics market.
How is the global radiopharmaceutical theranostics market divided into key segments?
The radiopharmaceutical theranostics market covered in this report is segmented –
1) By Product Type: Alpha Emitters, Beta Emitters, Positron Emission Tomography (PET) Tracers
2) By Source: Nuclear Reactors, Cyclotrons
3) By Radioisotope: Technetium-99, Gallium-68, Iodine-131, Iodine-123, 18F, Y-90, Lutetium (Lu) 177, Copper (Cu) 67, Copper (Cu) 64, Other Radioscopes
4) By Indication: Oncology, Cardiology, Neurology, Other Indications
5) By End User: Hospitals, Diagnostic Imaging Centers, Academic And Research Institutes, Other End Users
Subsegments:
1) By Alpha Emitters: Actinium-225, Radium-223, Bismuth-213, Other Alpha-Emitting Radiopharmaceuticals
2) By Beta Emitters: Iodine-131, Lutetium-177, Yttrium-90, Other Beta-Emitting Radiopharmaceuticals
3) By Positron Emission Tomography (PET) Tracers: Fluorodeoxyglucose (FDG), Gallium-68, Carbon-11, Other PET Tracers
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Who are the key firms paving the way for growth in the radiopharmaceutical theranostics market?
Major companies operating in the radiopharmaceutical theranostics market include Cardinal Health Inc., GE HealthCare Technologies Inc., Bayer AG, China Grand Pharmaceutical & Healthcare., Lantheus Medical Imaging Inc., Curium Pharma, Advanced Accelerator Applications, Telix Pharmaceuticals Ltd., Bracco Imaging S.p.A, NTP Radioisotopes SOC Ltd., Navidea Biopharmaceuticals Inc., Jubilant DraxImage Inc., NorthStar Medical Radioisotopes LLC, Blue Earth Diagnostics Ltd., Precirix NV, SpectronRx, Viewpoint Molecular Targeting Inc., NuView Life Sciences, Alpha-9 Theranostics Inc., RadioMedix Inc, RayzeBio Inc, Fusion Pharmaceuticals Inc, Actinium Pharmaceuticals Inc., Eckert & Ziegler Strahlen- und Medizintechnik AG, Ariceum Therapeutics GmbH, Radiopharm Theranostics Ltd, Ratio Therapeutics Inc, Primo Biotechnology, Bivision Biomedical Technology (Nanjing) Co. Ltd.
Which trends are expected to transform the radiopharmaceutical theranostics market?
Leading firms in the radiopharmaceutical theranostics market are strategically partnering up to pioneer new treatments. These alliances provide the radiopharmaceutical theranostics firms with combined resources and expertise, boost their research and development capabilities, broaden their market scope, and speed up product commercialization, thereby leading to innovation and growth in the field of radiopharmaceutical theranostics. For instance, in March 2023, Radiopharm Theranostics, a biotech firm based in Australia, collaborated with Pharma15 Corporation, a venture based in the US, to work on the development of advanced therapeutic radiopharmaceuticals targeting prostate cancer. The focus was on finding solutions to the resistance to existing PSMA-targeted therapies while maximizing the selectivity to decrease toxicity in healthy tissues.
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What regions are contributing significantly to the growth of the radiopharmaceutical theranostics market?
North America was the largest region in the radiopharmaceutical theranostics market in 2024. The regions covered in the radiopharmaceutical theranostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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